News
News and Research
The changes in advice-led business model are forcing asset managers to respond to a growing direct market.
The first week of December sees heavy losses again in adviser numbers with a net change of advisers of over 120 while the net losses for the year stood at 2,062, according to Wealth Data.
Now as a standalone business, Colonial First State is investing $430 million with aspirations to be the easiest provider for advisers to do business with and will launch a new wrap platform next year.
The corporate regulator believes its guidance along with penalties will help accelerate fee-for-no service remediation payments as there is still $3.7 billion left unpaid.
The continued decrease in adviser numbers this week was driven by IOOF, AMP Group, BMF Asset Management, and Diverger.
